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Loan Sales and Bank Liquidity Management : Evidence from a U.S. Credit Register

Irani, Rustom M. - 2019

We examine how banks use loan sales to manage liquidity during periods of marketwide stress and the associated spillovers to market prices. We track the dynamics of loan share ownership in the secondary market using data from a U.S. supervisory register of syndicated loans. Controlling for loan...

Persistent link: https://www.econbiz.de/10012904609

Do Fire Sales Create Externalities?

Chernenko, Sergey - 2018

We develop three novel measures of how much of the price impact of their trading different mutual funds internalize. We show that mutual funds that internalize more of their price impact hold larger cash buffers and use these buffers more aggressively to accommodate inflows and outflows. As a...

Persistent link: https://www.econbiz.de/10012910298

Fire Sales in Finance and Macroeconomics

Shleifer, Andrei - 2010

Fire sales are forced sales of assets in which high-valuation bidders are sidelined, typically due to debt overhang problems afflicting many specialist bidders simultaneously. We overview theoretical and empirical research on asset fire sales, which shows how they can arise, how they can lead to...

Persistent link: https://www.econbiz.de/10013134890

Foreclosure Contagion and REO Versus Non-REO Sales

Yates, Stephanie Rozelle - 2010

Using ZIP code-level data on foreclosure rates, distressed and non-distressed sales in Chicago, Illinois we examine the REO discount. We find significant differences in the difference in price between distressed and non-distressed properties in high- versus low-foreclosure rate neighborhoods. We...

Persistent link: https://www.econbiz.de/10013146692

"Fire sales - what can be done about them?" : on systemic risks in financial markets

Buchholz, Lucas - 2012

Persistent link: https://www.econbiz.de/10009490612

Fire sales in finance and macroeconomics

Shleifer, Andrei; Vishny, Robert W. - 2010

Persistent link: https://www.econbiz.de/10008808346

Fire sales in finance and macroeconomics

Shleifer, Andrei; Vishny, Robert W. - In: The journal of economic perspectives : EP ; a journal … 25 (2011) 1, pp. 29-48

Persistent link: https://www.econbiz.de/10009158165

Distress selling and asset market feedback

Shim, Ilhyock; Von Peter, Goetz - In: Financial markets, institutions & instruments 16 (2007) 5, pp. 243-291

Persistent link: https://www.econbiz.de/10003614078

Distress selling and asset market feedback

Shim, Ilhyock; Von Peter, Goetz - 2007

This paper examines the process of distress selling and asset market feedback. It splits this process into several … stages, in order to analyse what triggers distress selling, why asset prices fall, and how falling prices generate additional … rounds of selling. This framework enables us to understand and compare models relevant to distress selling from diverse …

Persistent link: https://www.econbiz.de/10003512264

Fire sales and information advantage : when informed investor helps

Massa, Massimo; Zhang, Lei - 2015

Persistent link: https://www.econbiz.de/10010533081